ECONOMY

In Guinea, Colonel Bienvenu Lamah has been promoted to Brigadier General by a presidential decree signed on Monday, August 3, just a few days after his acquittal in the trial for the massacre of September 28, 2009. This promotion comes…

A public awareness campaign against the trafficking of protected species is being conducted at the international airports of Douala and Yaoundé, initiated by the NGO WildAid. Messages displayed on digital screens engage travelers, while customs and agents from the Ministry…

The city of Casablanca has entrusted a consortium that includes Nareva, Kanadevia Inova, and I-Environment Investments with the task of constructing a large waste treatment and recovery center in Médiouna. The facility is expected to process around 4,000 tons of…

Dangote Petroleum Refinery & Petrochemicals is preparing for an introduction on the Nigerian Exchange with the goal of raising about $5 billion. The operation could be completed in October 2026, following the publication of a prospectus expected in September, pending…

The National Economic Council of Nigeria approved, on Tuesday, August 4, 2026, the refinancing of Project Gazelle, an important financing mechanism backed by future crude oil sales. The operation is intended to reorganize the repayment conditions of this debt, without…

Côte d’Ivoire and Botswana have signed a cooperation agreement in the mining and energy sectors. The partnership is intended to promote the sharing of experiences in governance of natural resources, skills development, and local processing of minerals. Côte d’Ivoire wants…

The ECOWAS Investment and Development Bank and Coris Holding have signed a financing agreement of 80 million euros, which is approximately 52.5 billion CFA francs. This line of credit is intended to strengthen the funding capacity of the banking group,…

Ghana’s President John Dramani Mahama has asked the Ministry of Energy to consider amending the rules that require local refineries to pay for crude oil produced in the country in dollars. The aim is to reduce their exposure to exchange…

Africa could generate an additional $77 billion in exports by further developing trade among its economies. According to Afreximbank, most of this potential is concentrated in manufactured and semi-processed goods, while the implementation of the African Continental Free Trade Area…

Seven OPEC+ members have decided to increase their production targets by 188,000 barrels per day starting September 2026. This new hike aims to complete the gradual phasing out of a voluntary reduction of 1.65 million barrels per day that was…

First HoldCo, the parent company of First Bank of Nigeria, plans to bring back to market a block of 10.43 billion shares representing nearly 25% of its capital. Temporarily held by RC Investment Management, this stake is valued between 1.3…

Bank of America has expanded Simbah Mutasa’s responsibilities by appointing him head of its investment banking activities across the African continent. The banker, who previously oversaw the South African market, will now coordinate the advisory and financing operations of the…

Microfinance institutions in the West African Economic and Monetary Union recorded an improvement in the quality of their credit portfolio at the end of 2025. The gross deterioration rate stood at 7.5%, down from 8.9% a year earlier, but remains…

Nigeria has started exporting a new quality of crude oil from OML 18 thanks to the FSO Cawthorne, a floating storage unit with a capacity of 2.2 million barrels. Supported notably by NNPC and Sahara Group, this infrastructure illustrates the…

Flutterwave plans to acquire a banking institution in East Africa as part of its expansion into financial services. The co-founder and CEO of the Nigerian fintech, Olugbenga Agboola, has not revealed which country is involved, nor the identity of the…

Africa Global Logistics Côte d’Ivoire closed the 2025 fiscal year with a net profit of 784.9 million FCFA, compared to 21.1 billion FCFA in 2024. This decrease of 96.3% occurs despite a 7.4% increase in revenue. Africa Global Logistics Côte…

Cybercrime caused at least $5 billion in direct economic damages in Africa in 2025, according to INTERPOL’s 2026 report on cyber threats on the continent. The organization particularly warns about the increasing use of artificial intelligence, now involved in 55%…

The African Development Bank has approved funding of 20 billion CFA francs, which is about 35.15 million USD, aimed at strengthening public finance management in Senegal. The announcement was made on Monday, August 3, by the institution in a statement.…

Gabon has raised a total of 920 million dollars in international markets, far exceeding its initial target of 750 million dollars. This operation comes as the country faces budget tensions and still high borrowing costs. The Gabonese authorities present this…

Islamic finance continues to gain ground in the West African Economic and Monetary Union, supported by licenses issued by the Central Bank of West African States. The number of institutions authorized to operate in this sector rose from two in…

In the Democratic Republic of Congo, mining companies are now required to reserve 10% of their share capital for Congolese nationals, in accordance with the revisions to the Mining Code adopted in 2018. The moratorium granted by the Ministry of…

Mozambique will allocate €1.2 billion, approximately $1.4 billion, to the rehabilitation and modernization of the Cahora Bassa hydroelectric dam. The ten-year program aims to strengthen the electricity production and transmission infrastructure of this strategic facility for Southern Africa. The investment…

The African Export-Import Bank, Afreximbank, announced on Friday the signing of three financing agreements totaling 190 million dollars in favor of CBZ Bank Limited, one of Zimbabwe’s leading commercial banks. This funding is intended to enhance the Zimbabwean bank’s capacity…

In the east of the Democratic Republic of Congo, civil society and human rights defenders from the Babila Babombi chiefdom in the Mambasa territory of Ituri have declared two days without activities starting Monday. This mobilization aims to protest against…

Togo wants to rely more on private capital to finance its economic transformation over the next fifteen years. The government gathered business organizations, companies, and donors in Lomé on Thursday, July 30, to define the private sector’s contribution to its…

On Victoria Island, a coastal neighborhood in Lagos, trees and mangroves have almost entirely given way to buildings. In this Nigerian megacity of nearly 20 million inhabitants, the disappearance of wetlands heightens the risks of flooding and exposure to high…

In several Southern African countries, the burden of external debt limits the maneuverability of governments and weakens education funding. Budgets for schools and teachers are declining even as needs grow, particularly due to population growth and economic difficulties. Trade unions…

In South Africa, the rise in electricity costs has increased companies’ interest in renewable energy. Solar power, combined with storage and wheeling, is becoming an increasingly sought-after solution to reduce dependence on the national grid. SolarAfrica, MPower, and Fledge Capital…

The second edition of the Great Agricultural Fair of Congo will open its doors on August 5, 2026, at the Exhibition Park of Bambou-Mingali, in the Djoué-Léfini department, about sixty kilometers from Brazzaville. The event will run until August 20…

The Executive Director of the Vaccine Alliance, Sania Nishtar, announced on Friday in Abuja a commitment of over $500 million over five years to support vaccination campaigns in Nigeria. She spoke following a meeting with Nigerian President Bola Tinubu. This…